CERTIFIED 203K CONTRACTORS

Until 1996, HUD maintained a database of HUD approved builders/contractors. However, in 1995, HUD started the process of dismantling their approval process for builders and contractor, and in 1996, the dismantling was completed when HUD deleted the database of HUD approved builders and contractors (Mortgagee Letter 95-57). Ten years later in 2006, the FHA Section 203(k) Rehabilitation Loan started to become necessary and more popular, because of the high number of properties in distressed conditions and the limited availability of mortgage loan options to buy these distressed properties. This need led the Mortgage and Real Estate industries to develop the 203k Contractor Certification Program ... because FHA 203k Lenders, Real Estate Agents, 203k borrowers, and 203k Consultants needed to work with contractors who knew and understood the complex 203k process. The Metro Phoenix, Arizona area was selected as the beta testing location because of the high number of distressed properties in..

Primary location: Tempe United States